IWS vs. SMLF ETF Comparison

Comparison of iShares Russell Mid-cap Value ETF (IWS) to iShares FactorSelect MSCI USA Small-Cap ETF (SMLF)

IWS

iShares Russell Mid-cap Value ETF

IWS Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities that exhibit value characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Russell Midcap Value Index (the "underlying index"), which measures the performance of the mid-capitalization value sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$131.00

Average Daily Volume

290,249

Number of Holdings ^*

706

* may have additional holdings in another (foreign) market

SMLF

iShares FactorSelect MSCI USA Small-Cap ETF

SMLF Description

The investment seeks to track the investment results of the MSCI USA Small Cap Diversified Multi-Factor Index (the "underlying index"), which has been developed by MSCI Inc. ("MSCI"). The underlying index is designed to select equity securities from MSCI USA Small Cap Index (the "Parent index") that have high exposure to four investment style factors: value, quality, momentum and low size, while maintaining a level of risk similar to that of the Parent index. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$65.78

Average Daily Volume

77,471

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

Performance

Period	IWS	SMLF
30 Days	1.25%	1.31%
60 Days	6.58%	6.97%
90 Days	9.98%	8.42%
12 Months	29.97%	30.08%

257 Overlapping Holdings

Symbol	Grade	Weight in IWS	Weight in SMLF	Overlap
AA	C	0.1%	0.13%	0.1%
ACHC	F	0.08%	0.07%	0.07%
ACI	F	0.09%	0.05%	0.05%
ACM	B	0.15%	0.19%	0.15%
ADT	D	0.02%	0.03%	0.02%
AFRM	C	0.12%	0.05%	0.05%
AGCO	D	0.07%	0.22%	0.07%
AGNC	C	0.09%	0.19%	0.09%
AGO	D	0.05%	0.24%	0.05%
AIZ	A	0.11%	0.17%	0.11%
ALAB	D	0.01%	0.01%	0.01%
ALGM	F	0.03%	0.01%	0.01%
ALLE	A	0.14%	0.17%	0.14%
ALSN	A	0.09%	0.48%	0.09%
AM	A	0.04%	0.39%	0.04%
AMG	C	0.06%	0.23%	0.06%
AMH	D	0.15%	0.26%	0.15%
AN	B	0.05%	0.27%	0.05%
APA	F	0.1%	0.25%	0.1%
APG	F	0.09%	0.09%	0.09%
AR	C	0.09%	0.21%	0.09%
ARW	C	0.08%	0.22%	0.08%
ASH	F	0.05%	0.08%	0.05%
ATI	B	0.09%	0.17%	0.09%
AXS	A	0.07%	0.01%	0.01%
AXTA	C	0.09%	0.02%	0.02%
AYI	A	0.1%	0.31%	0.1%
AZEK	B	0.02%	0.07%	0.02%
AZPN	C	0.07%	0.22%	0.07%
BBWI	F	0.07%	0.22%	0.07%
BC	C	0.06%	0.1%	0.06%
BERY	C	0.09%	0.11%	0.09%
BILL	D	0.05%	0.03%	0.03%
BJ	D	0.12%	0.16%	0.12%
BLD	C	0.13%	0.25%	0.13%
BPOP	D	0.07%	0.57%	0.07%
BRBR	B	0.09%	0.05%	0.05%
BRKR	D	0.03%	0.19%	0.03%
BRX	B	0.09%	0.37%	0.09%
BWXT	A	0.09%	0.12%	0.09%
BYD	C	0.05%	0.01%	0.01%
CACC	F	0.01%	0.09%	0.01%
CACI	A	0.12%	0.02%	0.02%
CAR	D	0.01%	0.08%	0.01%
CASY	D	0.13%	0.06%	0.06%
CBSH	D	0.08%	0.21%	0.08%
CC	D	0.03%	0.06%	0.03%
CFR	D	0.08%	0.21%	0.08%
CHE	B	0.09%	0.34%	0.09%
CHK	C	0.12%	0.26%	0.12%
CHRD	F	0.1%	0.03%	0.03%
CIEN	B	0.1%	0.03%	0.03%
CLH	C	0.14%	0.07%	0.07%
CLVT	D	0.03%	0.04%	0.03%
CMA	C	0.09%	0.0%	0.0%
CNM	F	0.03%	0.41%	0.03%
COKE	B	0.09%	0.25%	0.09%
COTY	F	0.04%	0.07%	0.04%
CR	C	0.08%	0.34%	0.08%
CROX	C	0.08%	0.29%	0.08%
CRUS	D	0.08%	0.14%	0.08%
CSL	A	0.2%	0.42%	0.2%
CUBE	C	0.14%	0.13%	0.13%
CUZ	C	0.05%	0.08%	0.05%
CVNA	A	0.14%	0.34%	0.14%
CW	A	0.14%	0.21%	0.14%
CWEN	A	0.01%	0.18%	0.01%
CWEN	A	0.03%	0.18%	0.03%
CXT	F	0.03%	0.09%	0.03%
DCI	B	0.1%	0.18%	0.1%
DDS	D	0.01%	0.3%	0.01%
DINO	F	0.08%	0.01%	0.01%
DKS	D	0.12%	0.42%	0.12%
DNB	D	0.04%	0.03%	0.03%
DOCS	B	0.05%	0.13%	0.05%
DTM	A	0.09%	0.16%	0.09%
EEFT	F	0.05%	0.09%	0.05%
EGP	D	0.1%	0.1%	0.1%
EHC	B	0.1%	0.05%	0.05%
ELAN	D	0.08%	0.08%	0.08%
EME	C	0.14%	0.84%	0.14%
EPR	C	0.04%	0.02%	0.02%
ESAB	C	0.07%	0.16%	0.07%
ESI	B	0.07%	0.15%	0.07%
ETSY	F	0.02%	0.23%	0.02%
EVR	C	0.1%	0.72%	0.1%
EWBC	D	0.13%	0.32%	0.13%
EXEL	C	0.01%	0.19%	0.01%
FAF	B	0.07%	0.17%	0.07%
FCN	B	0.09%	0.04%	0.04%
FCNCA	D	0.27%	0.25%	0.25%
FHB	D	0.03%	0.07%	0.03%
FHN	D	0.1%	0.04%	0.04%
FLO	C	0.05%	0.07%	0.05%
FR	C	0.08%	0.35%	0.08%
FYBR	C	0.1%	0.14%	0.1%
GAP	F	0.05%	0.23%	0.05%
GGG	B	0.16%	0.31%	0.16%
GLPI	B	0.15%	0.2%	0.15%
GME	D	0.09%	0.14%	0.09%
GMED	D	0.09%	0.02%	0.02%
GNRC	B	0.05%	0.13%	0.05%
GO	F	0.02%	0.01%	0.01%
GPK	B	0.1%	0.28%	0.1%
GWRE	A	0.09%	0.01%	0.01%
HAS	A	0.01%	0.23%	0.01%
HIW	C	0.04%	0.2%	0.04%
HLI	B	0.09%	0.16%	0.09%
HOG	C	0.05%	0.19%	0.05%
HRB	C	0.08%	0.45%	0.08%
HUN	B	0.04%	0.13%	0.04%
HXL	F	0.06%	0.01%	0.01%
IBKR	A	0.16%	0.37%	0.16%
IDA	B	0.06%	0.43%	0.06%
IONS	F	0.01%	0.16%	0.01%
ITT	B	0.13%	0.32%	0.13%
IVZ	C	0.07%	0.1%	0.07%
JBL	D	0.13%	0.55%	0.13%
JEF	B	0.09%	0.34%	0.09%
JHG	C	0.06%	0.27%	0.06%
KBR	D	0.09%	0.13%	0.09%
KD	F	0.06%	0.05%	0.05%
KIM	C	0.17%	0.15%	0.15%
KRC	C	0.05%	0.13%	0.05%
KSS	D	0.02%	0.1%	0.02%
LAMR	C	0.1%	0.36%	0.1%
LAZ	C	0.0%	0.1%	0.0%
LBRDA	C	0.01%	0.37%	0.01%
LBTYA	B	0.04%	0.26%	0.04%
LBTYK	A	0.04%	0.09%	0.04%
LECO	F	0.08%	0.05%	0.05%
LFUS	C	0.07%	0.06%	0.06%
LPX	A	0.02%	0.41%	0.02%
LSCC	D	0.01%	0.25%	0.01%
LSTR	D	0.07%	0.1%	0.07%
LYFT	D	0.02%	0.08%	0.02%
M	F	0.05%	0.19%	0.05%
MAN	D	0.04%	0.05%	0.04%
MASI	C	0.03%	0.07%	0.03%
MAT	C	0.07%	0.12%	0.07%
MDU	C	0.06%	0.06%	0.06%
MIDD	D	0.09%	0.09%	0.09%
MKSI	F	0.08%	0.08%	0.08%
MPW	C	0.04%	0.09%	0.04%
MSA	D	0.08%	0.02%	0.02%
MSM	D	0.04%	0.02%	0.02%
MSTR	C	0.24%	0.41%	0.24%
MTG	B	0.07%	0.1%	0.07%
MTN	D	0.01%	0.09%	0.01%
MTSI	C	0.07%	0.08%	0.07%
NDSN	B	0.16%	0.19%	0.16%
NFG	A	0.06%	0.13%	0.06%
NNN	A	0.1%	0.12%	0.1%
NOV	F	0.08%	0.13%	0.08%
NTNX	D	0.12%	0.5%	0.12%
NVST	D	0.04%	0.06%	0.04%
NVT	D	0.13%	0.5%	0.13%
NWL	D	0.03%	0.02%	0.02%
NXST	D	0.04%	0.08%	0.04%
NYT	B	0.1%	0.13%	0.1%
OC	B	0.17%	0.17%	0.17%
OGE	A	0.09%	0.13%	0.09%
OHI	C	0.11%	0.1%	0.1%
OLED	C	0.06%	0.05%	0.05%
OLN	D	0.06%	0.12%	0.06%
OMF	D	0.06%	0.15%	0.06%
ONTO	C	0.08%	0.21%	0.08%
ORI	A	0.1%	0.41%	0.1%
OVV	F	0.12%	0.22%	0.12%
OZK	F	0.05%	0.07%	0.05%
PARA	F	0.07%	0.11%	0.07%
PATH	D	0.01%	0.05%	0.01%
PII	D	0.05%	0.02%	0.02%
PK	D	0.04%	0.06%	0.04%
PLNT	C	0.04%	0.08%	0.04%
PNFP	D	0.09%	0.08%	0.08%
PR	F	0.08%	0.02%	0.02%
PRGO	F	0.04%	0.04%	0.04%
PRI	A	0.1%	0.26%	0.1%
PSTG	F	0.02%	0.3%	0.02%
PVH	F	0.06%	0.17%	0.06%
PYCR	D	0.01%	0.01%	0.01%
QDEL	D	0.03%	0.04%	0.03%
R	C	0.07%	0.26%	0.07%
RGEN	F	0.08%	0.08%	0.08%
RGLD	C	0.11%	0.14%	0.11%
RHI	D	0.08%	0.16%	0.08%
RKT	B	0.03%	0.05%	0.03%
RL	B	0.08%	0.15%	0.08%
RLI	A	0.07%	0.03%	0.03%
RNR	A	0.15%	0.23%	0.15%
ROIV	D	0.06%	0.01%	0.01%
ROKU	D	0.09%	0.04%	0.04%
RPM	C	0.14%	0.21%	0.14%
RRC	D	0.08%	0.19%	0.08%
RRX	C	0.13%	0.2%	0.13%
RS	D	0.18%	0.48%	0.18%
RYN	C	0.05%	0.07%	0.05%
S	D	0.06%	0.05%	0.05%
SAIA	D	0.05%	0.1%	0.05%
SCI	C	0.13%	0.14%	0.13%
SEE	B	0.03%	0.0%	0.0%
SF	A	0.1%	0.15%	0.1%
SITE	D	0.05%	0.05%	0.05%
SLM	C	0.05%	0.16%	0.05%
SMG	B	0.04%	0.23%	0.04%
SN	B	0.06%	0.3%	0.06%
SNV	D	0.07%	0.04%	0.04%
SOFI	C	0.08%	0.04%	0.04%
SOLV	D	0.11%	0.33%	0.11%
SON	D	0.06%	0.11%	0.06%
SPB	B	0.03%	0.16%	0.03%
SSD	C	0.08%	0.16%	0.08%
STAG	D	0.08%	0.04%	0.04%
STWD	C	0.07%	0.06%	0.06%
SWN	C	0.08%	0.1%	0.08%
THC	C	0.18%	0.33%	0.18%
THO	C	0.06%	0.13%	0.06%
TKR	B	0.06%	0.2%	0.06%
TNL	B	0.03%	0.15%	0.03%
TOL	A	0.17%	0.17%	0.17%
TPG	C	0.04%	0.19%	0.04%
TPR	B	0.11%	0.26%	0.11%
TTC	D	0.1%	0.16%	0.1%
TTEK	B	0.11%	0.34%	0.11%
UA	B	0.02%	0.14%	0.02%
UGI	C	0.06%	0.11%	0.06%
UNM	A	0.12%	0.0%	0.0%
USFD	C	0.16%	0.17%	0.16%
UTHR	B	0.17%	0.37%	0.17%
VAC	D	0.03%	0.06%	0.03%
VFC	B	0.07%	0.08%	0.07%
VIRT	C	0.03%	0.03%	0.03%
VMI	B	0.06%	0.13%	0.06%
VNO	B	0.08%	0.4%	0.08%
VNT	F	0.06%	0.05%	0.05%
VOYA	A	0.09%	0.17%	0.09%
VSTS	D	0.02%	0.02%	0.02%
W	D	0.06%	0.23%	0.06%
WAL	C	0.11%	0.1%	0.1%
WBA	F	0.07%	0.06%	0.06%
WBS	D	0.09%	0.04%	0.04%
WCC	C	0.08%	0.17%	0.08%
WEN	C	0.02%	0.12%	0.02%
WEX	C	0.09%	0.11%	0.09%
WH	C	0.06%	0.11%	0.06%
WMS	D	0.07%	0.13%	0.07%
WSC	D	0.06%	0.1%	0.06%
WSM	C	0.09%	0.52%	0.09%
WSO	B	0.19%	0.31%	0.19%
WTFC	C	0.08%	0.02%	0.02%
WTM	D	0.05%	0.15%	0.05%
WYNN	B	0.09%	0.07%	0.07%
X	F	0.1%	0.1%	0.1%
XRAY	D	0.06%	0.31%	0.06%
YETI	D	0.03%	0.09%	0.03%
ZION	D	0.08%	0.2%	0.08%

IWS Overweight 449 Positions Relative to SMLF

Symbol	Grade	Weight
AFL	A	0.68%
DHI	B	0.64%
AJG	D	0.63%
OKE	C	0.62%
WMB	A	0.62%
O	A	0.61%
BK	C	0.6%
DLR	C	0.58%
CCI	A	0.57%
FIS	C	0.53%
KVUE	C	0.5%
LHX	A	0.5%
PEG	A	0.49%
LEN	B	0.49%
PRU	C	0.49%
CMI	B	0.48%
KMI	A	0.48%
ALL	C	0.48%
PCG	B	0.48%
GIS	B	0.47%
EXC	A	0.46%
CTVA	B	0.46%
MCHP	F	0.46%
ACGL	A	0.46%
A	B	0.46%
URI	B	0.45%
AME	D	0.45%
CNC	F	0.45%
SPG	A	0.45%
OTIS	A	0.44%
IQV	F	0.44%
ROST	C	0.44%
IR	B	0.44%
CTSH	C	0.43%
EXR	C	0.43%
KR	B	0.42%
FERG	F	0.42%
HWM	A	0.42%
CBRE	A	0.42%
EA	D	0.42%
HUM	F	0.42%
BKR	B	0.41%
GEHC	B	0.41%
DOW	B	0.41%
NUE	D	0.4%
DFS	C	0.4%
XEL	A	0.4%
ED	A	0.4%
GLW	C	0.39%
VICI	C	0.39%
DD	B	0.39%
HIG	A	0.38%
EIX	A	0.37%
XYL	B	0.37%
AVB	C	0.37%
MLM	D	0.36%
EBAY	A	0.36%
FANG	F	0.36%
NDAQ	C	0.35%
CHTR	D	0.35%
WAB	A	0.35%
CSGP	F	0.35%
MTD	B	0.34%
ON	F	0.34%
MTB	C	0.34%
WEC	A	0.34%
DAL	B	0.34%
EQR	C	0.33%
BIIB	F	0.33%
ADM	D	0.33%
PHM	A	0.33%
PWR	B	0.33%
EFX	D	0.33%
WTW	A	0.33%
FITB	C	0.33%
PPG	D	0.33%
ANSS	D	0.32%
GPN	F	0.32%
AWK	C	0.32%
NVR	A	0.31%
ROK	D	0.31%
PAYX	A	0.31%
ETR	A	0.31%
IFF	C	0.3%
GRMN	D	0.3%
KEYS	C	0.3%
STT	C	0.3%
FTV	B	0.3%
HLT	B	0.3%
RCL	C	0.3%
CHD	B	0.29%
FE	A	0.29%
FSLR	C	0.29%
DVN	F	0.29%
TTWO	F	0.29%
SBAC	B	0.29%
HPQ	C	0.29%
DTE	A	0.29%
RMD	C	0.29%
DOV	C	0.29%
HAL	F	0.29%
HPE	C	0.28%
LYB	D	0.28%
SW	B	0.28%
HSY	D	0.28%
VMC	D	0.28%
VTR	B	0.28%
ES	A	0.27%
RJF	B	0.27%
TROW	D	0.27%
PPL	A	0.27%
WY	B	0.27%
AEE	A	0.26%
HUBB	A	0.26%
STE	D	0.26%
SQ	D	0.25%
WDC	C	0.25%
ZBH	F	0.25%
CBOE	B	0.25%
INVH	D	0.25%
YUM	B	0.25%
ILMN	C	0.24%
MKC	B	0.24%
BBY	B	0.24%
ARE	D	0.24%
K	B	0.24%
LDOS	A	0.24%
RF	C	0.24%
HBAN	C	0.24%
BLDR	B	0.24%
COO	C	0.24%
SYF	C	0.23%
WBD	D	0.23%
TDY	B	0.23%
LNG	D	0.23%
BALL	B	0.23%
ATO	A	0.23%
CINF	A	0.23%
CMS	A	0.23%
GPC	D	0.22%
APTV	D	0.22%
EQT	C	0.22%
TRU	C	0.22%
ESS	C	0.22%
BAX	D	0.22%
PFG	C	0.22%
OMC	A	0.22%
AVTR	D	0.21%
NTRS	C	0.21%
J	D	0.21%
HOLX	D	0.21%
LH	D	0.21%
CFG	D	0.21%
MAA	C	0.21%
DG	F	0.21%
PKG	A	0.21%
CCL	C	0.21%
SUI	C	0.2%
LUV	C	0.2%
CTRA	D	0.2%
ZM	B	0.2%
STLD	C	0.2%
MSCI	B	0.2%
CNP	B	0.2%
MAS	A	0.2%
SWK	A	0.19%
TXT	D	0.19%
WRB	B	0.19%
IP	B	0.19%
DGX	C	0.19%
TSN	D	0.19%
UAL	B	0.19%
MRO	D	0.18%
PNR	A	0.18%
SWKS	F	0.18%
AMCR	A	0.18%
IEX	D	0.18%
FNF	A	0.18%
KEY	C	0.18%
SSNC	C	0.18%
SNA	B	0.17%
ZBRA	C	0.17%
CF	A	0.17%
VLTO	C	0.17%
UDR	C	0.17%
CDW	D	0.17%
AKAM	D	0.17%
HOOD	C	0.17%
RVTY	C	0.17%
LNT	A	0.17%
NI	A	0.17%
DOC	B	0.17%
CAG	B	0.17%
MKL	B	0.17%
UHS	D	0.16%
JBHT	D	0.16%
BG	D	0.16%
NTAP	D	0.16%
EG	B	0.16%
L	D	0.16%
SYY	B	0.16%
TRMB	B	0.16%
VRSN	C	0.16%
GEN	A	0.16%
RGA	C	0.16%
IRM	B	0.16%
DLTR	F	0.16%
EXPD	B	0.16%
CPT	C	0.15%
HST	D	0.15%
REG	B	0.15%
ELS	D	0.15%
HES	D	0.15%
BMRN	F	0.15%
AES	B	0.15%
WPC	C	0.15%
VTRS	D	0.15%
BRO	A	0.15%
EVRG	B	0.15%
CHRW	A	0.14%
TECH	B	0.14%
SJM	B	0.14%
EMN	B	0.14%
JKHY	A	0.14%
JNPR	C	0.14%
FFIV	C	0.14%
BXP	C	0.14%
CAH	B	0.13%
KMX	D	0.13%
TFX	B	0.13%
FDS	C	0.13%
COHR	B	0.13%
IPG	C	0.13%
FTI	B	0.13%
PNW	A	0.12%
EPAM	F	0.12%
FWONK	D	0.12%
CE	D	0.12%
ATR	A	0.12%
NLY	C	0.12%
CRL	F	0.12%
HII	D	0.12%
AVY	B	0.12%
LKQ	F	0.12%
Z	C	0.12%
FBIN	B	0.12%
NRG	A	0.12%
RPRX	B	0.12%
CTLT	B	0.12%
CCK	A	0.12%
REXR	D	0.12%
MTCH	C	0.11%
FRT	B	0.11%
DPZ	D	0.11%
GL	C	0.11%
CNH	C	0.11%
TAP	D	0.11%
WTRG	D	0.11%
MKTX	C	0.11%
CG	C	0.11%
DRI	C	0.11%
RIVN	F	0.11%
QRVO	F	0.11%
AFG	B	0.11%
CPB	D	0.11%
INCY	B	0.11%
DOX	B	0.11%
ARMK	B	0.11%
AOS	B	0.11%
NWSA	D	0.11%
ALB	D	0.11%
PFGC	B	0.11%
WWD	B	0.11%
JLL	B	0.1%
TWLO	C	0.1%
MGM	D	0.1%
WST	D	0.1%
INGR	A	0.1%
SNX	C	0.1%
CZR	C	0.1%
HSIC	C	0.1%
HRL	F	0.1%
FOXA	A	0.1%
MOH	D	0.09%
BWA	C	0.09%
SKX	C	0.09%
FMC	B	0.09%
WAT	B	0.09%
EXAS	C	0.09%
ALGN	D	0.09%
DAY	C	0.09%
MTZ	C	0.09%
FND	B	0.09%
COLD	D	0.09%
LAD	B	0.09%
PTC	D	0.09%
ALLY	F	0.09%
KNX	C	0.09%
MOS	F	0.09%
MHK	B	0.09%
TKO	C	0.09%
RBC	B	0.09%
TW	A	0.09%
OKTA	F	0.08%
AAL	D	0.08%
G	A	0.08%
BFAM	C	0.08%
SEIC	B	0.08%
HR	C	0.08%
JAZZ	F	0.08%
GNTX	F	0.08%
SAIC	B	0.08%
FICO	C	0.08%
KEX	C	0.08%
CART	C	0.08%
ADC	B	0.08%
H	C	0.07%
DAR	F	0.07%
GWW	A	0.07%
BEN	F	0.07%
GXO	D	0.07%
OLLI	C	0.07%
SIRI	C	0.07%
LEA	F	0.07%
FLS	B	0.07%
FAST	C	0.07%
LW	D	0.07%
BIO	B	0.07%
CGNX	F	0.07%
OSK	F	0.07%
PB	D	0.07%
FOX	A	0.06%
CCCS	D	0.06%
LINE	F	0.06%
OGN	D	0.06%
ALK	B	0.06%
LBRDK	C	0.06%
FNB	D	0.06%
THG	A	0.06%
ST	F	0.06%
LNC	D	0.06%
COIN	F	0.06%
WHR	C	0.06%
COLB	C	0.06%
POST	B	0.06%
MTDR	F	0.06%
SRCL	B	0.06%
RITM	D	0.06%
IAC	C	0.05%
UHAL	A	0.05%
AMP	A	0.05%
LITE	C	0.05%
RH	C	0.05%
DBX	C	0.05%
DLB	D	0.05%
SLGN	A	0.05%
CPRI	C	0.05%
FRPT	C	0.05%
PSN	A	0.05%
AVT	B	0.05%
AL	D	0.05%
WLK	B	0.05%
IRDM	C	0.04%
AMED	D	0.04%
ZG	C	0.04%
PAYC	D	0.04%
ZI	D	0.04%
NWS	D	0.04%
VNOM	B	0.04%
NSA	C	0.04%
SPR	D	0.04%
U	D	0.04%
MSGS	B	0.04%
AMKR	F	0.04%
GTES	C	0.04%
NEU	F	0.04%
KMPR	D	0.04%
CLF	D	0.04%
TYL	C	0.04%
AWI	A	0.04%
DXC	D	0.04%
ALNY	B	0.04%
GFS	F	0.04%
CIVI	F	0.04%
BROS	D	0.03%
JWN	D	0.03%
EXP	C	0.03%
ENOV	F	0.03%
AAP	F	0.03%
HHH	B	0.03%
CRI	D	0.03%
BOKF	D	0.03%
SHC	C	0.03%
ULTA	D	0.03%
AGR	C	0.03%
AZTA	F	0.03%
BHF	F	0.03%
COLM	B	0.03%
LOPE	D	0.03%
WU	D	0.03%
PAG	D	0.03%
CNXC	F	0.03%
PENN	D	0.03%
LCID	D	0.03%
UAA	B	0.02%
TRIP	F	0.02%
PPC	A	0.02%
INFA	D	0.02%
LEG	D	0.02%
TER	D	0.02%
REYN	C	0.02%
MP	C	0.02%
LEN	B	0.02%
BIRK	F	0.02%
FTRE	F	0.02%
GLOB	D	0.02%
SAM	D	0.02%
IPGP	D	0.02%
LLYVK	A	0.02%
QS	F	0.02%
PINC	F	0.02%
HAYW	B	0.02%
BR	B	0.02%
RCM	B	0.02%
UI	A	0.01%
PLTK	C	0.01%
CHH	C	0.01%
TFSL	D	0.01%
LLYVA	A	0.01%
TXG	F	0.01%
AS	B	0.01%
SEB	D	0.01%
NCNO	D	0.01%
WOLF	F	0.01%
HCP	B	0.01%
FWONA	D	0.01%
DV	F	0.01%
FIVE	D	0.01%
CNA	D	0.01%
CERT	F	0.01%
SNDR	C	0.01%
SEG	D	0.0%
LOAR	C	0.0%
PARAA	D	0.0%
DJT	F	0.0%
NFE	F	0.0%
UWMC	D	0.0%
UHAL	A	0.0%
GRAL	F	0.0%

IWS Underweight 559 Positions Relative to SMLF

Symbol	Grade	Weight
APP	B	-0.7%
DECK	C	-0.68%
MANH	C	-0.53%
SFM	A	-0.48%
WING	B	-0.47%
SLG	C	-0.46%
AXON	A	-0.45%
MLI	B	-0.41%
FIX	B	-0.41%
MEDP	F	-0.4%
DUOL	B	-0.4%
IOT	C	-0.4%
COOP	C	-0.4%
COCO	C	-0.39%
PCOR	D	-0.38%
WFRD	F	-0.37%
NTRA	B	-0.35%
GTLB	D	-0.34%
VGR	C	-0.33%
CAVA	C	-0.32%
ANF	D	-0.32%
MAC	B	-0.31%
WK	D	-0.31%
PIPR	C	-0.3%
ALKS	C	-0.3%
SPXC	C	-0.3%
POWL	A	-0.29%
MOD	C	-0.29%
OFG	D	-0.29%
FLEX	B	-0.29%
YOU	C	-0.29%
SIG	C	-0.28%
SMAR	A	-0.27%
HALO	D	-0.27%
ENTG	D	-0.27%
IMKTA	F	-0.26%
HSII	B	-0.26%
TPX	B	-0.25%
CORT	B	-0.25%
HURN	C	-0.24%
LNTH	C	-0.24%
TREX	D	-0.24%
UFPI	B	-0.24%
STRL	C	-0.24%
XRX	F	-0.23%
BCC	B	-0.23%
JOE	D	-0.23%
INTA	C	-0.23%
SKT	A	-0.23%
SRPT	F	-0.23%
ESTC	F	-0.23%
AXSM	C	-0.22%
DNLI	C	-0.22%
CPRX	C	-0.22%
LIVN	D	-0.21%
JBSS	F	-0.21%
FBP	D	-0.21%
GPI	C	-0.21%
ATKR	F	-0.2%
RMBS	F	-0.2%
SANM	D	-0.2%
MUR	F	-0.2%
EXLS	B	-0.2%
NAVI	D	-0.2%
HAE	D	-0.19%
GES	F	-0.19%
MATX	B	-0.19%
ELF	F	-0.19%
AVNT	B	-0.19%
TEX	F	-0.19%
LNW	F	-0.18%
TDOC	D	-0.18%
FROG	F	-0.18%
WS	D	-0.18%
KFRC	F	-0.18%
BRC	C	-0.18%
KNSL	D	-0.18%
PRG	C	-0.18%
LUMN	C	-0.18%
PRGS	B	-0.18%
PDM	C	-0.18%
RNG	F	-0.17%
PI	B	-0.17%
VCYT	C	-0.17%
PGRE	D	-0.17%
EXTR	D	-0.17%
ACLS	F	-0.17%
KRG	C	-0.17%
CVCO	A	-0.16%
TOST	B	-0.16%
SKY	A	-0.16%
IGT	F	-0.16%
PRKS	D	-0.16%
MMYT	D	-0.16%
SATS	C	-0.16%
TPH	B	-0.16%
SQSP	A	-0.16%
BMI	A	-0.16%
AMR	F	-0.15%
NJR	C	-0.15%
ABG	D	-0.15%
AY	B	-0.15%
CNO	C	-0.15%
NOVT	D	-0.15%
ONON	C	-0.15%
SPT	F	-0.15%
IVT	B	-0.15%
ACLX	C	-0.15%
GH	F	-0.15%
NUVL	B	-0.15%
TNET	F	-0.14%
CMC	C	-0.14%
ODP	F	-0.14%
OGS	A	-0.14%
BSY	D	-0.14%
NSP	F	-0.14%
MMSI	C	-0.14%
LRN	C	-0.14%
BL	D	-0.14%
INSP	C	-0.14%
SBGI	B	-0.14%
SRCE	D	-0.14%
ENSG	D	-0.14%
SPSC	D	-0.13%
HOV	C	-0.13%
BRZE	F	-0.13%
YEXT	B	-0.13%
VECO	F	-0.13%
VSTO	D	-0.13%
BPMC	F	-0.13%
WTS	B	-0.13%
RYAN	A	-0.13%
GOLF	F	-0.13%
SSTK	F	-0.13%
FTAI	B	-0.13%
IPAR	D	-0.13%
CBT	B	-0.13%
BLKB	C	-0.13%
MFA	C	-0.13%
GATX	D	-0.13%
XPO	F	-0.13%
XNCR	D	-0.13%
GFF	B	-0.12%
BKE	C	-0.12%
CHX	F	-0.12%
VRNS	C	-0.12%
PCTY	C	-0.12%
ALX	C	-0.12%
SFBS	D	-0.12%
KAI	C	-0.12%
UMBF	C	-0.12%
QLYS	F	-0.12%
LILA	B	-0.12%
BANF	D	-0.12%
AWR	B	-0.12%
BCRX	D	-0.12%
ACCO	C	-0.12%
WAFD	D	-0.12%
DFIN	D	-0.12%
SR	A	-0.12%
PTEN	F	-0.11%
NTCT	C	-0.11%
KLIC	D	-0.11%
VSH	F	-0.11%
ACAD	F	-0.11%
EXPI	C	-0.11%
PNM	B	-0.11%
AIT	A	-0.11%
CMPR	F	-0.11%
AROC	C	-0.11%
BAND	F	-0.11%
SYNA	F	-0.11%
CYTK	F	-0.11%
INSM	D	-0.11%
ICFI	C	-0.11%
PCVX	B	-0.11%
COUR	F	-0.11%
OPCH	D	-0.11%
OSCR	C	-0.11%
EXPO	B	-0.11%
HTH	D	-0.11%
NSSC	F	-0.1%
MTRN	F	-0.1%
AAN	D	-0.1%
UPBD	F	-0.1%
CARG	C	-0.1%
TMHC	B	-0.1%
INVA	B	-0.1%
FHI	C	-0.1%
BASE	F	-0.1%
APOG	B	-0.1%
NYCB	D	-0.1%
KW	C	-0.1%
MATV	D	-0.1%
OII	D	-0.1%
VMEO	C	-0.1%
RDDT	C	-0.1%
LOVE	B	-0.1%
BDC	B	-0.09%
HASI	C	-0.09%
NSIT	C	-0.09%
BECN	F	-0.09%
ALIT	D	-0.09%
JACK	F	-0.09%
DNOW	F	-0.09%
HP	F	-0.09%
CRC	B	-0.09%
SITC	F	-0.09%
CAL	F	-0.09%
ACA	C	-0.09%
CRS	B	-0.09%
PLUS	C	-0.09%
HIMS	C	-0.09%
MCB	C	-0.09%
CHDN	D	-0.09%
IBOC	D	-0.09%
AGM	F	-0.09%
TENB	F	-0.08%
HI	F	-0.08%
ASO	D	-0.08%
AMPH	C	-0.08%
LZ	D	-0.08%
FLR	D	-0.08%
GMS	D	-0.08%
CRDO	C	-0.08%
LXP	D	-0.08%
WNC	F	-0.08%
CARS	F	-0.08%
BCO	A	-0.08%
FLNC	C	-0.08%
PD	F	-0.08%
LGND	D	-0.08%
PBH	D	-0.08%
ILPT	D	-0.08%
ATEN	C	-0.08%
CSWI	B	-0.08%
DVAX	D	-0.08%
ASB	F	-0.08%
PHIN	D	-0.08%
BOX	C	-0.08%
SCS	D	-0.08%
KN	D	-0.08%
CUBI	F	-0.08%
VC	F	-0.08%
VERA	C	-0.08%
MDGL	F	-0.08%
TGNA	B	-0.08%
WOR	F	-0.08%
MRC	D	-0.08%
ALV	F	-0.08%
ADEA	C	-0.07%
CEIX	B	-0.07%
OXM	F	-0.07%
TNC	F	-0.07%
SNEX	C	-0.07%
BLMN	F	-0.07%
OTTR	F	-0.07%
GCO	F	-0.07%
TXRH	B	-0.07%
APPF	C	-0.07%
PEGA	C	-0.07%
UVV	C	-0.07%
EIG	B	-0.07%
ANAB	D	-0.07%
WLY	A	-0.07%
SANA	F	-0.07%
SM	F	-0.07%
HWC	D	-0.07%
ANGI	C	-0.07%
HE	F	-0.07%
EQC	D	-0.07%
HOUS	C	-0.07%
GKOS	C	-0.07%
DH	F	-0.07%
DLX	F	-0.07%
RIG	F	-0.07%
CXW	F	-0.07%
AIV	C	-0.07%
VIR	F	-0.07%
KNF	C	-0.07%
CNMD	D	-0.07%
VKTX	D	-0.07%
SFL	D	-0.07%
NTB	D	-0.07%
MED	F	-0.07%
CVLT	C	-0.07%
UNIT	C	-0.07%
IDCC	A	-0.07%
POR	B	-0.07%
HEES	D	-0.07%
GPMT	D	-0.06%
TRN	C	-0.06%
MERC	D	-0.06%
FN	C	-0.06%
YELP	F	-0.06%
APLS	F	-0.06%
CENTA	F	-0.06%
AGX	B	-0.06%
PEN	D	-0.06%
HCC	D	-0.06%
FIVN	F	-0.06%
NXT	F	-0.06%
OMI	F	-0.06%
AMLX	D	-0.06%
AMN	F	-0.06%
GEO	F	-0.06%
HWKN	A	-0.06%
AEO	C	-0.06%
NBR	F	-0.06%
LADR	D	-0.06%
DOMO	F	-0.06%
AMRX	A	-0.06%
ADMA	B	-0.06%
NARI	F	-0.06%
AMPL	D	-0.06%
EPAC	C	-0.06%
AVDX	F	-0.05%
ITGR	C	-0.05%
PFSI	C	-0.05%
RCUS	F	-0.05%
ITRI	C	-0.05%
BKD	D	-0.05%
ASAN	F	-0.05%
BCPC	C	-0.05%
AVAV	B	-0.05%
BEAM	F	-0.05%
AMBC	F	-0.05%
CTBI	D	-0.05%
CERS	F	-0.05%
NHI	C	-0.05%
CNX	A	-0.05%
WTTR	D	-0.05%
FOLD	F	-0.05%
ITCI	D	-0.05%
LPG	F	-0.05%
ZIP	D	-0.05%
MCY	B	-0.05%
KOS	F	-0.05%
SMTC	C	-0.05%
MMS	A	-0.05%
EYPT	F	-0.05%
CELH	F	-0.05%
WGO	D	-0.05%
RUSHA	C	-0.05%
FUN	F	-0.05%
IBP	C	-0.05%
THR	F	-0.05%
PZZA	D	-0.05%
IRTC	F	-0.05%
MDXG	F	-0.04%
OI	D	-0.04%
SPRY	C	-0.04%
ACCD	F	-0.04%
SLAB	D	-0.04%
OPI	F	-0.04%
DIN	D	-0.04%
TARS	C	-0.04%
TILE	B	-0.04%
TDS	B	-0.04%
CGEM	F	-0.04%
SAH	D	-0.04%
ARRY	F	-0.04%
CFFN	D	-0.04%
DAWN	D	-0.04%
AGYS	D	-0.04%
OUT	C	-0.04%
IVR	C	-0.04%
RDFN	C	-0.04%
AGS	D	-0.04%
HSTM	B	-0.04%
HELE	D	-0.04%
NATL	D	-0.04%
SNBR	C	-0.04%
EVH	D	-0.04%
SVC	F	-0.04%
AVXL	D	-0.04%
VITL	C	-0.04%
NRC	F	-0.04%
FFIN	D	-0.04%
HLF	F	-0.04%
KREF	C	-0.04%
KLG	D	-0.04%
ENS	C	-0.04%
IOSP	F	-0.04%
CVI	F	-0.04%
SONO	D	-0.04%
GIII	C	-0.03%
WD	C	-0.03%
QRTEA	F	-0.03%
RYI	F	-0.03%
MOG.A	B	-0.03%
ARCB	D	-0.03%
TSE	C	-0.03%
ALRM	F	-0.03%
DAN	F	-0.03%
VNDA	F	-0.03%
TCBI	C	-0.03%
OFIX	D	-0.03%
ATRC	D	-0.03%
NX	F	-0.03%
MGNI	D	-0.03%
ARCH	D	-0.03%
SNDX	F	-0.03%
OPEN	F	-0.03%
EVTC	D	-0.03%
LTH	C	-0.03%
RGNX	F	-0.03%
EMBC	D	-0.03%
REVG	D	-0.03%
SGH	F	-0.03%
TWO	D	-0.03%
JELD	D	-0.03%
SWIM	B	-0.03%
PDCO	F	-0.03%
BRSP	D	-0.03%
UDMY	F	-0.03%
CHWY	C	-0.03%
TLRY	F	-0.03%
TPB	B	-0.03%
DBI	F	-0.03%
XHR	C	-0.03%
HNI	B	-0.03%
FLYW	F	-0.03%
IDT	C	-0.03%
BBIO	F	-0.03%
QXO	F	-0.03%
CORZ	C	-0.03%
RPD	D	-0.03%
FL	F	-0.03%
RVMD	B	-0.03%
CNS	C	-0.03%
CALX	C	-0.03%
CDP	A	-0.03%
UVE	C	-0.03%
ARWR	F	-0.03%
PRO	F	-0.02%
ERAS	D	-0.02%
OSUR	F	-0.02%
NTLA	F	-0.02%
OSIS	B	-0.02%
SHO	D	-0.02%
RAMP	F	-0.02%
KVYO	B	-0.02%
KRNY	D	-0.02%
BMBL	F	-0.02%
SLVM	C	-0.02%
WOOF	C	-0.02%
HMST	B	-0.02%
OLPX	C	-0.02%
KFY	C	-0.02%
HAIN	C	-0.02%
BRY	F	-0.02%
MTW	F	-0.02%
EDR	A	-0.02%
LMAT	B	-0.02%
GPRO	D	-0.02%
DYN	D	-0.02%
EVRI	B	-0.02%
ARCT	D	-0.02%
NUS	F	-0.02%
IRWD	F	-0.02%
RLJ	D	-0.02%
DOCN	C	-0.02%
PTCT	C	-0.02%
FSS	B	-0.02%
AKRO	C	-0.02%
CNDT	B	-0.02%
TGTX	C	-0.02%
DY	C	-0.02%
PBF	F	-0.02%
JANX	D	-0.02%
SUPN	D	-0.02%
CRSP	F	-0.02%
LANC	F	-0.02%
ALHC	C	-0.02%
VCEL	F	-0.02%
VIAV	C	-0.02%
SAFE	C	-0.02%
IESC	B	-0.02%
USNA	F	-0.02%
AMCX	F	-0.02%
CWK	C	-0.01%
SFIX	F	-0.01%
RBRK	F	-0.01%
JOBY	F	-0.01%
ZUO	F	-0.01%
MITK	F	-0.01%
VAL	F	-0.01%
PGEN	F	-0.01%
AIN	D	-0.01%
TTGT	F	-0.01%
SWI	C	-0.01%
ARR	D	-0.01%
OMER	F	-0.01%
BIGC	F	-0.01%
CRAI	B	-0.01%
PCH	C	-0.01%
EPC	F	-0.01%
PEB	D	-0.01%
POWI	F	-0.01%
FLWS	F	-0.01%
OIS	F	-0.01%
TDC	D	-0.01%
ENVA	C	-0.01%
JAMF	F	-0.01%
HQY	B	-0.01%
CAKE	B	-0.01%
UTL	C	-0.01%
UPWK	D	-0.01%
WTI	D	-0.01%
BKH	B	-0.01%
MBC	B	-0.01%
VRE	C	-0.01%
NWN	B	-0.01%
TR	D	-0.01%
NGVT	D	-0.01%
HTZ	F	-0.01%
BSIG	C	-0.01%
SWX	C	-0.01%
HCAT	D	-0.01%
SWTX	F	-0.01%
ENR	B	-0.01%
STGW	C	-0.01%
MLAB	B	-0.01%
GEF	C	-0.01%
UNFI	B	-0.01%
XPRO	F	-0.01%
NFBK	D	-0.01%
KALU	D	-0.01%
MBLY	F	-0.01%
RHP	C	-0.01%
NEXA	B	-0.01%
ASGN	D	-0.01%
AEIS	D	-0.01%
RXT	C	-0.01%
SSB	C	-0.01%
HYFM	D	-0.0%
CHCO	D	-0.0%
BFH	D	-0.0%
MC	C	-0.0%
EGBN	C	-0.0%
GDOT	C	-0.0%
NBTB	D	-0.0%
HPP	F	-0.0%
CVBF	D	-0.0%
RDN	D	-0.0%
FULT	D	-0.0%
BOH	F	-0.0%
JXN	B	-0.0%
TRMK	D	-0.0%
DEI	A	-0.0%
GNW	C	-0.0%
PFBC	D	-0.0%
BDN	A	-0.0%
CASH	D	-0.0%
TBBK	C	-0.0%
AX	D	-0.0%
PRDO	D	-0.0%
BKU	D	-0.0%